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Global economy

The ITUC seeks to increase intergovernmental cooperation to ensure that the social dimension of globalisation, including decent work and fundamental workers’ rights, is right at the centre of decision-making at the world’s major global and regional institutions. This includes the G-20, the World Bank, the International Monetary Fund (IMF), the World Trade Organisation (WTO), and the United Nations and its specialised agencies, especially the International Labour Organisation (ILO) with its tripartite structure and mandate to set international social standards.

News Global economy

The President of the International Trade Union Confederation, João Felício, addressed the plenary session of the BRICS Trade Union Forum, which was being held in Ufa, Russia, in the afternoon of Thursday 9 July. Speaking to the delegates from the five BRICS countries, Mr Felício provided an overview of the international trade union movement at this time, broaching such issues as the fight against anti-trade union practices and for collective bargaining and freedom of trade union organisation throughout the world.

The results of Sunday’s referendum in Greece confirm for the second time in less than six months that the Greek people decisively reject the austerity policies that have left a more than quarter of the country’s workforce unemployed.

The closure of Greece’s banks, at least until after the surprise 5 July referendum announced by the Greek government on the demands set by the “troika”, underlines the folly of putting ideology ahead of economic sense, according to the International Trade Union Confederation.

International trade unions have welcomed key pledges made by the leaders of major global economies at the 2015 G7 Summit, while warning that public confidence in governments and business is waning and stronger action for sustainable economic growth is needed on a number of fronts.

The ITUC has called on the United States, the European Union and other negotiating partners to build a trading system for the common good, after recent leaks from secret trade negotiations revealed worrying details for workers.